Bancroft Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ -- (Marketwired) -- 08/18/15 -- Bancroft Fund Ltd. (NYSE MKT: BCV) today reported earnings, financial highlights and certain portfolio information for the nine months ended July 31, 2015:

               EARNINGS REPORT
                                                     Nine Months Ended
                                                          July 31
                                              ------------------------------
                                                   2015            2014

Net Income                                       $668,000        $789,000
Per Share                                          $0.13           $0.15
Shares Outstanding                               5,118,574       5,242,291
Total Net Assets                               $124,887,000    $123,093,000
Net Asset Value Per Share                         $24.40          $23.48

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               FUND STATISTICS

Market price                                      $21.28
Net asset value (NAV)                             $24.40
Premium/(Discount)                               (12.79)%
Total Net Assets                               $124,887,000
12-month income distribution, includes
 return-of-capital                                $0.766
Yield on market price                              3.6%
Ratio of expenses (annualized)                     1.1%
Ratio of net income (annualized)                   0.8%
Portfolio turnover                                  32%
Shares outstanding                               5,118,574

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             TEN LARGEST HOLDINGS
          by underlying common stock
                                                   % of
                                                Net Assets
Gilead Sciences, Inc.                               3.3
Equinix, Inc.                                       2.1
Wells Fargo & Co.                                   1.9
Allergan plc                                        1.8
Jarden Corp.                                        1.8
Incyte Corp.                                        1.7
Micron Technology, Inc.                             1.7
Mylan Inc.                                          1.7
The Priceline Group Inc.                            1.7
T-Mobile US, Inc.                                   1.7

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              SECTOR WEIGHTINGS
                                                   % of
                                                Net Assets
Consumer Discretionary                              7.9
Consumer Staples                                    3.7
Energy                                              3.1
Financials                                         17.6
Health Care                                        21.6
Industrials                                         4.7
Information Technology                             32.1
Materials                                           0.9
Telecommunication Services                          4.1
Utilities                                           2.2

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               ASSET ALLOCATION
                                                   % of
                                                Net Assets
Convertible Bonds & Notes                          68.6
Convertible Preferred Stock                        12.6
Mandatory Convertible Securities                   16.6
Cash & Equivalents                                  2.2

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Data is unaudited and as of July 31, 2015. This select information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Shareholders for the six months ended April 30, 2015.

Detailed portfolio information is available on our website (www.bancroftfund.com). Contact us by email at [email protected] or call us at (973) 631-1177.

Bancroft Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests. Its shares are traded on the NYSE MKT LLC exchange under the ticker symbol BCV.

Cusip 059695106

For further information please contact:
Gary I. Levine
Chief Financial Officer
Ph. (973) 631-1177
Fax (973) 631-9893
[email protected]
www.bancroftfund.com

Source: Bancroft Fund Ltd.

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